Kea Posted January 31, 2014 Report Share Posted January 31, 2014 I'm returning to ATX after several years. I started doing one partnership return in the mean time, so this is the 1st time I've prepared one in ATX. I apologize in advance if these questions are too basic. The partnership is comprised of 2 general partners. It is for a ranch and shows a loss. Problems: (1) Form 1065 page 4 Sch K Lines 14a - c are blank. (2) Form 1065 page 5, (Analysis of Net Income) line 2 a (ii) is not showing the net loss. Line 1 shows the loss, but all Line 2 boxes are blank. (3) Form 1065 page 5 Sch L Line 11 (land) is blank Am I missing a checkbox somewhere? Other comments: (1) The Line 14a worksheet shows the loss in boxes 3a and 3b. This leaves a $0 for 3c which is why 14 is blank. But the Sch K1 does have the "general partner" box checked. Why is it being allocated to "limited partner"? (3) I do have the Land basis in the Fixed Assets and it is coded as "Land" - but many of the fields are shown in red. I do have most of the fields filled in. The sub-category is blank because there are no choices for non-depriciable land. I haven't filled the IRC code (because I haven't looked up the code #), but even when I pick a random code, the values remain red. File was converted from TaxWise to ATX in the 2012 program and then rolled over to 2013. Thanks for any suggestions. Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 1, 2014 Report Share Posted February 1, 2014 This is what I would do in this situation. I would prepare a 1065 for testing on the fly and from scratch. You know what you are looking for so, just enter the few numbers that will give you a loss and you should see if the conversion is at fault. Also, I would make a copy of this return in 2012 and work on it then save it and roll over both returns. Welcome back. Based on the performance I have seen from ATX2013 so far, I lot of people will return to ATX next year. 1 Quote Link to comment Share on other sites More sharing options...
Kea Posted February 1, 2014 Author Report Share Posted February 1, 2014 Thanks Pacun - I'll try that tomorrow. I think I'm glad to be back. But we'll see how this year goes before I make a final decision. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 1, 2014 Report Share Posted February 1, 2014 Anytime you have a file that was converted, there is a chance for issues. Makes no difference who the original tax program was. It is the major reason I and the firm chose to stay with ATX for 2013. I will have 100% rollover at the firm and my private practice for 2013. 1 Quote Link to comment Share on other sites More sharing options...
Kea Posted February 1, 2014 Author Report Share Posted February 1, 2014 I agree that conversions are always a problem .... I've done that several times in the last few years. (I'm glad I have a small practice.) I had too many problems last year, so I knew I'd be converting this year. Quote Link to comment Share on other sites More sharing options...
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